Section 11 of the Act requires, within three months of becoming a person in public life, that such a person complete and file with the Commission in the prescribed form, a declaration of income, assets and liabilities in respect of the previous year and, thereafter, on 31st May in each succeeding year that he is a person in public life, to file further declarations of income, assets and liabilities.
The Commission may extend the time for furnishing a declaration in specific instances but the period will not be more than six months.
The declaration may be accompanied by a statement relating to the declarant’s net worth as indicated by details of his income, assets and liabilities.
The declaration must be filed even if the declarant ceased to be a person in public life during the year in which the declaration is required or in the following year.
If a person in public life dies there is no obligation on the administrator of his estate to file a declaration.
If a person in public life fails to file a declaration in accordance with Section 11 of the Act, or without reasonable cause, fails to furnish particulars in accordance with section 13 or fails to file the statement of registrable interests under section 14, the Commission is empowered to publish this failure in the Gazette and at least one daily newspaper in Trinidad and Tobago.
The Commission may, at anytime after the publication, make an ex parte application to the High Court for an order directing the person to comply with the Act and the Court may, in addition to making such an order, impose such conditions as it thinks fit.
A person who fails to comply with the directions of the Court commits an offence and is liable on conviction to a fine of one hundred and fifty thousand dollars.
Section 12(1)-(5) of the Act specifies the information which should be disclosed in the declaration.
A declaration required under the Act, shall include such particulars as are known to the declarant, of the income, assets and liabilities of himself, his spouse and his dependent children.
(2) Notwithstanding subsection (1), where—
(a) the spouse was not ordinarily living with the declarant for a continuous period of six months during the period in relation to which the declaration was made; or
(b) a dependent child was not ordinarily living with the declarant at any time during the period in relation to which the declaration was made, the particulars required to be furnished by subsection (1) shall be limited to assets held by the spouse or child in trust for, or as agent of the declarant, except that nothing in this section shall be construed as precluding the Commission from requiring from a declarant, any additional particulars.
(3) Where a person in public life holds money or other property in trust for another person, he shall so state in his declaration but shall not be required to disclose the terms of the trust.
(4) For the purposes of a declaration under this Act, the income, assets and liabilities of a person in public life include the income, assets and liabilities acquired, held or incurred by any other person as his agent or on his behalf.
(5) Where, in a declaration filed with the Commission, a person in public life discloses an income which is insufficient to support the increase in value of the net assets disclosed so as to raise the inference that there must have been other income to account for the extent of the acquisition of such assets, the person in public life will be deemed to have been in possession of such income which has not been disclosed and the onus shall be on him to establish the source of that further income.